NEW YORK, NY — “Chesapeake Energy is almost out of rope. Investors have punished the company in recent days, sending its shares down as much as 25%, following reports that Aubrey McClendon, Chesapeake’s co-founder and chief executive, engaged in some questionable transactions with the company.

But while accusations of sweetheart deals are troublesome, they are really the least of Chesapeake’s worries. The company is drowning in debt and can no longer rely on hedging to shield itself from low natural gas prices. Chesapeake and its embattled chief executive are now in a race against time to diversify the company’s production away from natural gas to oil, so they can prove to investors that they can make money the old fashioned way – by actually earning it through the drillbit.

McClendon grew Chesapeake from a small energy company into the second-largest producer of natural gas in the U.S. in just a few short years, second only to ExxonMobil (XOM). He did it by aggressively reinvesting the company profits to acquire large tracts of drillable land.”

Members Supporting Clean Energy in Ohio

8,879 members have sent handwritten letters urging the Public Utilities Commission of Ohio and Governor John Kasich to stop the financial bailout of Ohio’s outdated, least efficient coal plants as of July 25, 2015.
3,911 members have signed our "No Bailout" on-line petition.
956 neighbors have sent handwritten letters urging the U.S. EPA to enact strong carbon rules for coal-fired power plants.